Selbyville, Delaware, Global Artillery Systems Market size to reach USD 19.49 billion by 2027 and is valued approximately USD 12.06 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 7.1% over the forecast period 2021-2027.

Artillery is defined as a heavy military ranged weapon built to launch mortar, and it is one of the most drastic and inexpensive forms of land-based armament used at large scale across militaries. Threats of attacks by nations, increased demand for artillery-based system, and increasing government budget on military expenditure has led the adoption of Air and missile defense radar across the forecast period.

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Major countries in Asia and Middle East are in constant threat from each other thus making these regions a potential market for the firms. For instance, As per STOCKHOLM INTERNATIONAL PEACE RESEARCH INSTITUTE (SIPRI) The Total global military expenditure rises to $1981 billion since last year, which is an increase of 2.6 percent from 2019. However, limited space for ammunition storage may act as a market restraint. Also, with initiation of weapon modernization programs, the adoption & demand for artillery systems are likely to increase.

Major market player included in this report are:

  • Elbit Systems
  • BAE Systems
  • China North Industries Corporation (Norinco)
  • Hanwha Group
  • Kmw+Nexter Defense Systems (KNDS)
  • Denel Soc Ltd
  • IMI Systems
  • Lockheed Martin
  • ST Engineering
  • Ruag Group

Global Artillery Systems Market is segmented on the basis of geographical region as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading region across the world in terms of market share owing to the technological advancement and major defense equipment industry located in this region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate over the forecast period 2021-2027. Factors such as rising military budget and constant threats between the nations would create profitable growth prospects for the Artillery Systems Market across Asia-Pacific region.

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players.

The detailed segments and sub-segment of the market are explained below:

By Type:

  • Howitzer
  • Mortar
  • Anti-Air Artillery
  • Rocket Artillery
  • Others

By Component:

  • Gun Turret
  • Engine
  • Fire Control System
  • Ammunition Handling System
  • Chassis
  • Auxiliary System

Global Artillery Systems Market: regional analysis

Geographically, this report is segmented into several key countries, with market size, growth rate, import and export of Artillery Systems market in these countries, which covering North America, U.S., Canada, Europe, UK, Germany, France, Spain, Italy, ROE, Asia Pacific, China, India, Japan, Australia, South Korea, RoAPAC, Latin America, Brazil, Mexico and Rest of the World.

Furthermore, years considered for the study are as follows:

  • Historical year – 2018, 2019
  • Base year – 2020
  • Forecast period – 2021 to 2027.

Some of the major questions addressed in the report are:

  • What are the crucial factors driving the market?
  • What shall be the expected growth acceleration and rate of the market during the forecasted timeframe?
  • What was the market size value of the Artillery Systems in 2020?
  • What shall be the Artillery Systems Market size by 2027?
  • Which region shall account for the largest market share of the Artillery Systems Industry?
  • What are the market threats and opportunities considered by the vendors in the Artillery Systems Market?

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